If my memory is clear--and the disappearing of collective memory of industrial organization is an effort of modern industrial public relations
--this was the foundation of Canada
's industrial strategy for much of our our history. Among the upsides of this policy, was the growth of an industrial base that created many high-paying jobs for Canadians through the establishment of large industrial concerns, such as Canadian Pacific
, and Massey-Ferguson
Just another example of the power a national government has to shape its own economy, all sadly relinquished in the name of free trade--that rarely lives up to its name--except for the dominant power.
Maybe the trade off of several large enterprises that employ many in high-paying jobs for one--say Nortel Networks--is a good one; of this I am unconvinced.